Stock analysts at HSBC Holdings plc assumed coverage on shares of Citigroup Inc. (NYSE:C) in a research report issued on Tuesday, July 11th, Marketbeat.com reports. The firm set a “hold” rating and a $71.00 price target on the financial services provider’s stock. HSBC Holdings plc’s price target indicates a potential upside of 2.84% from the company’s current price.

C has been the subject of several other research reports. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $66.90 price objective for the company. in a report on Tuesday, April 25th. Zacks Investment Research upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Jefferies Group LLC reiterated a “hold” rating and issued a $68.00 price objective on shares of Citigroup in a report on Monday, May 15th. BMO Capital Markets reiterated a “buy” rating and issued a $64.00 price objective on shares of Citigroup in a report on Thursday, June 1st. Finally, Buckingham Research reiterated a “buy” rating and issued a $81.00 price objective (up previously from $70.00) on shares of Citigroup in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $68.04.

Citigroup (NYSE C) traded up 0.09% during trading on Tuesday, hitting $69.04. The company had a trading volume of 12,961,018 shares. The company’s 50 day moving average price is $66.26 and its 200-day moving average price is $61.34. Citigroup has a 1-year low of $44.51 and a 1-year high of $69.62. The stock has a market capitalization of $188.10 billion, a price-to-earnings ratio of 13.82 and a beta of 1.48.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the company earned $1.24 EPS. Citigroup’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts expect that Citigroup will post $5.23 EPS for the current year.

Citigroup announced that its board has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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Hedge funds have recently added to or reduced their stakes in the stock. Catamount Wealth Management bought a new stake in Citigroup during the second quarter valued at about $100,000. Patten Group Inc. increased its position in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares during the last quarter. Dubuque Bank & Trust Co. increased its position in shares of Citigroup by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after buying an additional 599 shares during the last quarter. Arrow Financial Corp increased its position in shares of Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after buying an additional 85 shares during the last quarter. Finally, Advantage Investment Management LLC increased its position in shares of Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the last quarter. 74.89% of the stock is owned by institutional investors and hedge funds.

About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

Analyst Recommendations for Citigroup (NYSE:C)

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